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Singapore dollar at 10-year highs
SINGAPORE, Oct 10, 2007 (AFP) – The Singapore dollar was trading at 10-year highs against the greenback on Wednesday after the Monetary Authority of Singapore (MAS) signalled a slight tightening of its policy, dealers said.In morning trade the local unit was at 1.4665 to the US dollar, up from 1.4752 on Tuesday. MAS, the de […]
Sri Lanka minister wants Atapattu back
Oct 10, 2007 (AFP) – Sri Lankan Sports Minister Gamini Lokuge is keen to bring back former captain Marvan Atapattu into the squad for next month’s tour of Australia, a ministry official said here Wednesday. “The minister hopes to see Marvan in the next few days to hear his side of the story. He is […]
Sri Lanka plans arms dealing restrictions: report
COLOMBO, Oct 10, 2007 (AFP) – Sri Lanka’s government is planning to introduce a blanket ban on its nationals’ involvement in officially authorised arms dealing, a state-run newspaper said Wednesday.The new restrictions appear to be part of an effort by Colombo to centralise its own burgeoning weapons purchases, which in the past have been conducted […]
Sri Lanka plans record defence spending
Oct 10, 2007 (AFP) – Sri Lanka plans to hike overall defence spending by 20 percent to a record 1.48 billion dollars amid a rise in fighting with Tamil Tiger rebels, according to a bill tabled in parliament on Wednesday.More than 5,500 people have been killed since December 2005, after a 2002 Norwegian brokered truce […]
S&” rating confirmed
Oct 09, 2007 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s B+ sovereign rating on the eve of a maiden global bond offer, but warned that excessive commercial borrowing could reduce support for the rating. Fitch Ratings had given the bond a BB- rating, a notch higher than S&P but with a negative outlook. […]
Building Watchdog
Oct 09, 2007 (LBO) – International audit firm Deloitte Thursday launched its financial advisory services for Sri Lanka’s construction industry which has been growing rapidly in recent years. “We try to help clients in monitoring the quality of work, and to ensure timely and on-budget delivery of their projects,” said Gajanan Sabnis, Senior Manager, Construction […]
Indian shares hit record 18,000 points level
MUMBAI, Oct 9, 2007 (AFP) – Indian shares prices hit a record high Tuesday with the benchmark Sensex index vaulting the psychologically key 18,000-point level for the first time. Dealers said support for the market came from information technology and oil refinery stocks on hopes of a strong second quarter earnings performance. The Sensex was […]
‘s can reach 10-pct growth target by cutting govt role: OECD
PARIS, Oct 9, 2007 (AFP) – India can reach its target of annual economic growth of 10 percent by 2011 if the country concentrates reforms on reducing the role of the state in the economy, an OECD report said on Tuesday. The Paris-based economic institute urged the government to loosen “restrictive” labour laws and “inefficient” […]
EU urges flexibility from China over exchange rates
LUXEMBOURG, Oct 9, 2007 (AFP) – The European Union’s top monetary affairs official urged China on Tuesday to allow its currency to trade more freely in foreign exchange markets as EU finance chiefs prepared for an upcoming G7 meeting. “China and other emerging economies should introduce more flexibility in their exchange rate management,” EU Economic […]
Murali dilemma for desperate Sri Lanka
Oct 9, 2007 (AFP) – Sri Lanka are mulling over whether to play star spinner Muttiah Muralitharan in the must-win fourth one-day international against England here on Wednesday. The hosts, trailing 1-2 in the five-match series, will be tempted to field the 35-year-old, who has recently recovered from a bicep injury suffered while playing for […]